Prologis Signs 300,000 Square Foot Build-to-Suit Agreement in United Kingdom
SAN FRANCISCO, Oct. 10, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced it has signed an agreement with Network Rail for a completed 300,000 square foot turnkey distribution center at Prologis Park Ryton in the West Midlands.
Prologis Park Ryton is strategically-located on the A45 at the center of the UK motorway network and proximate to Coventry Airport. The facility is being designed to achieve Building Research Establishment Environmental Assessment Method (BREEAM) "Very Good" accreditation and the best possible Energy Performance Certificate (EPC) rating for its size. Construction is expected to be complete in March 2013.
"We are delighted to have secured this new distribution centre at Ryton," said Stephen Dady, supply chain manager at Network Rail. "Prologis was able to offer us a facility that met the requirements of our parts logistics operations and because planning permission was already in place, the building will be ready to meet our timetable."
"This new agreement highlights the growing demand for Class-A logistics space in the UK," said Andrew Griffiths, managing director, Prologis UK. "We are pleased to accommodate the needs of Network Rail and look forward to continue offering our customers the best opportunities in the UK market."
As of June 30, 2012, Prologis had approximately 18 million square feet of logistics and distribution space completed or under development in the UK.
Prologis, Inc. is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of June 30, 2012, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 569 million square feet (52.9 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.
SOURCE Prologis, Inc.